Q. Consider the following statements about the Green climate fund: - The World Bank serves as the interim trustee of Green Climate Fund
- NABARD has been accredited as Direct Access Entity (DAE) of Green Climate Fund in India
- The first GCF project in India approved by the GCF Board is being implemented in Odisha
Which of the above statements is/are correct?
Answer:
1, 2 & 3
Notes: The Green Climate Fund was established at the United Nations Climate Change Conference held in Cancún, Mexico in 2010. It was established by 194 countries to limit or reduce greenhouse gas emissions in developing countries. The Fund is managed by a GCF Board, which has 24 members. World Bank serves as a trustee of the fund. GCF works through accredited entities to finance the projects and programs. In India, NABARD has been accredited as the implementing agency of the projects funded through Green Climate Fund. Recently, NABARD has signed Funded Activity Agreement (FAA) with Green Climate Fund (GCF) for implementation of project “Groundwater recharge and solar micro-irrigation” project being implemented in Odisha. It is the first project in the country being implemented through Green Climate Fund. NABARD aims to use the use the GCF resources for projects and programmes aimed at climate resilient and low emission development.